Apple CEO John Ternus faces first earnings test amid memory costs
In short
Apple’s new CEO John Ternus took over from Tim Cook in September and is now facing his first earnings test. The company’s first foldable phone, smart home hub and first touch-screen laptops all started shipping in the current fiscal first quarter.
This matters because Apple is dealing with rising memory costs, which Tim Cook called a “100-year flood.” The reporting does not say how much those costs will affect Apple’s results.
What the reporting says
Apple’s new CEO John Ternus is heading into his first earnings test after taking over from Tim Cook in September. The publisher summary says Apple launched its first foldable phone, smart home hub and first touch-screen laptops, and all began shipping in the current fiscal first quarter. Cook had described rising memory costs as a “100-year flood,” but the reporting does not say how much they will hit margins.
Why it matters
John Ternus has taken over as Apple’s CEO and is facing an earnings test as the company ships several new products, including its first foldable phone, smart home hub and touch-screen laptops. The supplied summary says those launches happened in the current fiscal first quarter. Apple is also contending with rising memory costs, which Tim Cook described as a major cost shock, though the reporting does not quantify the impact.